This topic is created exclusively to discuss the issue of public validators in the active set.
In august 2023, only 50 validators are allowed in the active set of validators on mainnet.
This can be increased or decreased thru governance proposal.
However, modifying the list size of active validators also implies an impact on the delay to validate blocks and on commissions earnt by each validator (mostly used for aidrops, ad campaigns, HW infrastructure and maintenance, self-bonded stake, etc.).
There are 3 types of validators:
- Foundation Genesis validators (created at genesis - block #1) : Singapore, Miami, SoPaulo, NewYork, Taipeï, Istanbul, Madrid, Tokyo, Montreal, London, Amsterdam, Seoul, Dubaï, Delhi, Shenzhen, Bucharest, ChiangMai, Innsbruck, Jakarta - ~175.6M $FX delegated
- Partners validators : Litecoin Foundation, European University Cyprus, Asosiasi Blockchain Indonesia - ~40.7M $FX delegated
- Public validators : all others (like myself, FX FriendsX, ClaudioXBarros, etc.) - ~158.7M $FX delegated
Due to the nature of the FX project (funded thru a conversion of NPXS/PUNDIX towards FX project), many tokens were not bought by PUNDIX users thru the multiple conversion programs offered. And these tokens were all attributed at genesis to the FX foundation.
For that reason, the foundation owns most of the $FX tokens of the project, and they delegate them to the multiple validators.
The voting power is paramount for governance to be expressed : the more $FX are delegated to public validators, the more chances of seeing a proposal being voted YES or NO, since team validators and partner validators are not supposed to vote.
For example, in the numbers above, if a proposal was to be voted by all active validators, only 158.7/(158.7+40.7+175.6)=42.32% of votes could be expressed. So if only one or two public validators do not vote, it is impossible to reach the 40% quorum required for a proposal to be even just considered by the consensus (below 40%, it will be rejected, whatever the YES/NO result).
Also, to be in the active validator set, a validator needs to have more delegated tokens than the 50th validator. Otherwise, it just goes inactive in the consensus…
We used to have a discussion a year ago when DAOVerse proposal was rejected because public validators (the only ones to be voting on governance proposals) couldn’t reach the 40% quorum.Even though it’s now corrected, it appears some public validators are not “playing the game” and are not voting. And since the FX foundation is the one delegating most of the tokens to the public validators, it is clearly required to assess regularly which public validators should have more “foundation-delegated” tokens and which should have less. You can check for every public validators’ votes on the Starscan explorer, thru the Validators tab.
From here, I’m assuming you all understood how the Tendermint (or future CometBFT) consensus works. And for more information, the Tendermint/CometBFT consensus is the underlying consensus layer on which CosmosSDK is relying, and FX relies on CosmosSDK architecture.
3 public validators are currently waiting in the inactive list :
- Aghanism (@Aghanims ) : 999.4k $FX delegations
- FX FriendsX (@11110 ) : 799.4k $FX delegations
- ByteX (@ByteXSylvia ) : 0.7k $FX delegations
Update 11/AUG/2023: addition of pending inactive (not jailed) public validators.